They didn't necessarily have to dish out money. They could have paid for the title through compensation in kind, i.e. free air transport for Academy executives, free transport of the Oscar statues from Chicago to
LAX, etc.
It's simple target marketing. Airlines often sponsor the arts (theatre, dance, etc.) b/c the people who can afford to attend events like these are also the ones who have $$$ for premium price air travel.
Depending on what deal they struck, the "free"
PR was probably worth it. Did you see the episode of "Entertainment Tonight" when they accompanied the statues from
ORD to
LAX? It was like a 30-minute commercial showcasing UAL.
"We hope you've enjoyed flying with us as much as we've enjoyed taking you for a ride."